| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Neutral |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The USD/DKK currency pair continued to trade downwards within the long-term descending channel (4H time-frame chart). Currently, the pair is trading at the 6.7250 mark.
From a theoretical point of view, it is likely that some downside potential could prevail in the market, as the exchange rate should target the lower channel line located in the 6.5400/6.6000 range. Important level to look out for is 6.6500.
However, note that the currency pair is supported by the 55-, 100– and 200-hour moving averages, currently located in the 6.6943/6.7267 area. Thus, the pair could breach the given channel north. In this case the rate could face the resistance—the Fibo 61.80% at 6.7797.